Big Blue Food Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08167295 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2018

FOR

BIG BLUE FOOD LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S S Duhra

Mrs R Duhra

REGISTERED OFFICE:

Harpal House

14 Holyhead Road

Handsworth

Birmingham

West Midlands

B21 0LT

REGISTERED NUMBER:

08167295 (England and Wales)

FIXED ASSETS

Intangible assets

3

213,576

228,831

Tangible assets

4

9,923

2,025

223,499

230,856

CURRENT ASSETS

Stocks

5

2,441

2,238

Debtors

6

325

271

Cash at bank and in hand

11,118

10,803

13,884

13,312

CREDITORS

Amounts falling due within one year

7

52,099

72,284

NET CURRENT LIABILITIES

(38,215

)

(58,972

)

TOTAL ASSETS LESS CURRENT LIABILITIES

185,284

171,884

CREDITORS

Amounts falling due after more than one year

8

175,236

182,976

NET ASSETS/(LIABILITIES)

10,048

(11,092

)

CAPITAL AND RESERVES

Called up share capital

10

800

800

Retained earnings

11

9,248

(11,892

)

SHAREHOLDERS' FUNDS

10,048

(11,092

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 31 May 2019 and were signed on its behalf by:

S S Duhra - Director

1.	STATUTORY INFORMATION

Big Blue Food Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

10% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2017

and 31 August 2018

305,108

AMORTISATION

At 1 September 2017

76,277

Amortisation for year

15,255

At 31 August 2018

91,532

NET BOOK VALUE

At 31 August 2018

213,576

At 31 August 2017

228,831

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 September 2017

3,354

Additions

9,000

At 31 August 2018

12,354

DEPRECIATION

At 1 September 2017

1,329

Charge for year

1,102

At 31 August 2018

2,431

NET BOOK VALUE

At 31 August 2018

9,923

At 31 August 2017

2,025

5.

STOCKS

31/8/18

31/8/17

£

£

Stocks

2,441

2,238

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/8/18

31/8/17

£

£

Prepayments

325

271

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/8/18

31/8/17

£

£

Trade creditors

1,988

2,155

Tax

11,623

4,794

Social security and other taxes

682

1,298

VAT

7,755

8,972

Directors' current accounts

27,091

47,165

Accrued expenses

2,960

7,900

52,099

72,284

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/8/18

31/8/17

£

£

Bank loans (see note 9)

175,236

182,976

9.

LOANS

An analysis of the maturity of loans is given below:

31/8/18

31/8/17

£

£

Amounts falling due between two and five years:

Bank loans - 2-5 years

175,236

182,976

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/8/18

31/8/17

value:

£

£

800

Ordinary

£1

800

800

11.

RESERVES

Retained

earnings

£

At 1 September 2017

(11,892

)

Profit for the year

21,140

At 31 August 2018

9,248